Richardson Electronics (NASDAQ:RELL) Issues Earnings Results

Richardson Electronics (NASDAQ:RELL - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $0.12 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.07, Zacks reports. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%. The business had revenue of $51.89 million for the quarter, compared to analysts' expectations of $53.86 million.

Richardson Electronics Stock Performance

RELL traded down $0.34 during trading hours on Friday, reaching $10.52. The company's stock had a trading volume of 73,662 shares, compared to its average volume of 35,083. Richardson Electronics has a 52 week low of $7.57 and a 52 week high of $15.51. The company's 50-day moving average is $9.48 and its 200-day moving average is $10.74. The firm has a market cap of $151.60 million, a PE ratio of -131.48, a price-to-earnings-growth ratio of 3.01 and a beta of 1.00.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, August 8th. Richardson Electronics's dividend payout ratio (DPR) is presently -300.00%.

Institutional Investors Weigh In On Richardson Electronics

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in shares of Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock worth $950,000 after buying an additional 5,802 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after purchasing an additional 12,097 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in Richardson Electronics in the first quarter valued at about $198,000. Institutional investors own 71.95% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Richardson Electronics from a "buy" rating to a "hold" rating in a research note on Saturday, April 19th.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor manufacturing equipment, RF, and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.